- The French government formally declares its opposition to GE’s (GE -0.4%) friendly $13.5B offer for Alstom's (ALSMY, AOMFF) energy assets, saying in a letter to GE that the deal should be reconfigured on a more equitable footing.
- The government’s legal means for stopping a deal appears limited, though it could refuse to approve such an investment on national security grounds; economy minister Montebourg notes in his letter that the government was Alstom’s most important customer.
- Alstom’s energy units, which make turbines for nuclear, coal and gas power plants, as well as the grid infrastructure to deliver electricity, contribute ~75% of its €20B (~$30B) in the company’s annual sales.
France says it opposes GE’s bid for Alstom unit
From other sites
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